Robert W. Baird reissued their buy rating on shares of Atlassian (NASDAQ:TEAM) in a research report released on Friday, March 16th. The brokerage currently has a $65.00 price target on the technology company’s stock.
Several other equities analysts also recently commented on TEAM. Jefferies Group upped their price objective on Atlassian to $64.00 and gave the company a buy rating in a research report on Friday, January 19th. Guggenheim reaffirmed a hold rating and issued a $50.00 price objective on shares of Atlassian in a research report on Friday, January 19th. BMO Capital Markets reissued a market perform rating and set a $56.00 price target (up previously from $51.00) on shares of Atlassian in a research report on Friday, January 19th. They noted that the move was a valuation call. Canaccord Genuity reissued a buy rating and set a $60.00 price target (up previously from $52.00) on shares of Atlassian in a research report on Wednesday, January 17th. Finally, BidaskClub raised Atlassian from a buy rating to a strong-buy rating in a research report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $57.40.
Atlassian stock traded down $1.38 during mid-day trading on Friday, hitting $54.59. The company’s stock had a trading volume of 883,925 shares, compared to its average volume of 918,420. The company has a market capitalization of $5,437.11, a PE ratio of -1,819.67 and a beta of 2.29. Atlassian has a one year low of $30.83 and a one year high of $62.25.
Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, January 18th. The technology company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.04). The business had revenue of $212.63 million during the quarter, compared to the consensus estimate of $204.40 million. Atlassian had a negative net margin of 15.85% and a negative return on equity of 4.00%. equities analysts anticipate that Atlassian will post -0.08 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN grew its position in shares of Atlassian by 36.2% during the 3rd quarter. Wells Fargo & Company MN now owns 497,185 shares of the technology company’s stock worth $17,476,000 after buying an additional 132,081 shares in the last quarter. Sei Investments Co. boosted its position in Atlassian by 12.2% during the third quarter. Sei Investments Co. now owns 294,226 shares of the technology company’s stock valued at $10,342,000 after purchasing an additional 31,935 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in Atlassian by 28.4% during the third quarter. Artisan Partners Limited Partnership now owns 7,543,086 shares of the technology company’s stock valued at $265,139,000 after purchasing an additional 1,668,292 shares in the last quarter. BlackRock Inc. boosted its position in Atlassian by 31.9% during the fourth quarter. BlackRock Inc. now owns 2,193,451 shares of the technology company’s stock valued at $99,846,000 after purchasing an additional 530,523 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Atlassian during the third quarter valued at about $317,000. 88.35% of the stock is currently owned by institutional investors and hedge funds.
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Atlassian Corporation Plc, through its subsidiaries, provides team collaboration and productivity software solutions worldwide. It offers project tracking, content creation and sharing, real-time communication, and service management products to large and small organizations. The company's products include JIRA, a workflow management system that enables teams to plan, organize, track, and manage their work and projects; Confluence, a content collaboration platform that is used to create, share, organize, and discuss projects; HipChat that provides teams a way to communicate in real-time and share ideas, updates, codes, and files; Trello, a Web-based project management application for capturing and adding structure to fluid and fast-forming work for teams; Bitbucket, a code management and collaboration product for teams using distributed version control systems; and JIRA Service Desk, a service desk product for creating and managing service experiences for various service team providers, including IT help desks, and legal and HR teams.
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